@ ALL,

                       AS I OPEN MY CRYSTALL BALL I SEE BEFORE ME ANOTHER WAY TO MONEY MAKING:
Trading will commence soon and i think this is another avenue we should look into to add to our stocks portfolios, the on line trading will soon begin i have join in the train so why not, So far, the exchange has traded a cumulative value of about N40 million in 2,112 contracts since its inception in July 2006,I love my fatherland GOD BLESS NAIJA.



                                         THE ABUJA SECURITIES & COMMODITY EXCHANGE (ASCE)  
                                                               ( www.abujacomex.com )

The Abuja Securities & Commodity Exchange(ASCE) was originally incorporated as a Stock Exchange on June 17, 1998.  It commenced electronic trading in securities in May 2001 and was converted to a commodity Exchange on August 8, 2001 and brought under the supervision of the Federal Ministry of Commerce.  The conversion was premised on the need for an alternative institutional arrangement that would manage the effect of price fluctuations in the marketing of agricultural produce which has adversely affected the earnings of farmers since the abolishment of commodity Boards in 1986.  Attempts to establish a Commodity Exchange and Futures market in the country dates back to 1989 when an Inter-Ministerial Technical Committee was set up at the behest of the Central Bank of Nigeria to look into how a Futures Exchange for agricultural commodities could be established to address frontally the agro-commodity marketing problems.  

The Exchange will be of immense benefits to farmers, agro-commodity processors and merchants, as it will serve as a veritable platform for them to mitigate the inherent risks in agricultural production and marketing.   The enlarged market for agricultural produce, which the ASCE will engender, shall promote commercial farming and the growth of the agricultural sector.  The Exchange will start operations in spot and forward markets and gradually introduce trading in warehouse receipts and eventually evolve into a futures market trading commodity futures and options.  It will trade contracts in agricultural produce, solid mineral products, energy, financial indices and currencies.  The Exchange will commence spot trading on agricultural commodity contracts in July 2006 and later in the year launch spot trading on solid mineral contracts.


                     Source:http://www.abujacomex.com/about/showText.asp?typeid=67371008

BIGBOYLARY:

@ ALL,

AS I OPEN MY CRYSTALL BALL I SEE BEFORE ME ANOTHER WAY TO MONEY MAKING:
Trading will commence soon and i think this is another avenue we should look into to add to our stocks portfolios, the on line trading will soon begin i have join in the train so why not, So far, the exchange has traded a cumulative value of about N40 million in 2,112 contracts since its inception in July 2006,I love my fatherland GOD BLESS NAIJA.



THE ABUJA SECURITIES & COMMODITY EXCHANGE (ASCE)
( www.abujacomex.com )

The Abuja Securities & Commodity Exchange(ASCE) was originally incorporated as a Stock Exchange on June 17, 1998. It commenced electronic trading in securities in May 2001 and was converted to a commodity Exchange on August 8, 2001 and brought under the supervision of the Federal Ministry of Commerce. The conversion was premised on the need for an alternative institutional arrangement that would manage the effect of price fluctuations in the marketing of agricultural produce which has adversely affected the earnings of farmers since the abolishment of commodity Boards in 1986. Attempts to establish a Commodity Exchange and Futures market in the country dates back to 1989 when an Inter-Ministerial Technical Committee was set up at the behest of the Central Bank of Nigeria to look into how a Futures Exchange for agricultural commodities could be established to address frontally the agro-commodity marketing problems.

The Exchange will be of immense benefits to farmers, agro-commodity processors and merchants, as it will serve as a veritable platform for them to mitigate the inherent risks in agricultural production and marketing. The enlarged market for agricultural produce, which the ASCE will engender, shall promote commercial farming and the growth of the agricultural sector. The Exchange will start operations in spot and forward markets and gradually introduce trading in warehouse receipts and eventually evolve into a futures market trading commodity futures and options. It will trade contracts in agricultural produce, solid mineral products, energy, financial indices and currencies. The Exchange will commence spot trading on agricultural commodity contracts in July 2006 and later in the year launch spot trading on solid mineral contracts.


Source:http://www.abujacomex.com/about/showText.asp?typeid=67371008

thanks larry,

i searched their website about twoweeks back but could make head or tail . please can you enlighten me? how do we register?

take care

soorry i didnt mean to insert the whole article again. my apologies

@lokia,

First and foremost you have to become a member of the exchange, kindly look into this and make your choice,

MEMBERSHIP CATEGORIES

The Exchange will register three (3) classes of members viz:

(a) Ordinary Member;

(b) Trading Member; and

(c) Institutional Trading Member

ORDINARY MEMBER

Individuals or corporate citizens are eligible to register as ordinary members. They are entitled to all right and privileges that any other members of the Exchange will enjoy except that they can not trade directly on the Exchange unless through a registered trading member.

TRADING MEMBER

Trading Members can initiate trades on the Exchange and solicit trades from their clients or customer with whom they have constituent agreement. They can trade on their accounts and the accounts of their clients and can be elected into the Council of the Exchange. Those that can apply for this category of membership are stockbrokers, commodity brokers and commodity merchant.

INSTITUTIONAL TRADING MEMBER

Processing Companies such as Cadbury, Nestle, Guinness, NASCO Group, Grandcereals & Oil Mills Ltd, Jos International Breweries and a host of others can apply as Institutional Trading Members. They can trade on their accounts and the accounts of other Institutional Trading Members. However, no Institutional Trading Member shall be allowed to trade on behalf .
After that you can now move forward to the next stage.

@BIGBOYLARRY

Thanks so much man!!!

@BIGBOYLARY,
Thanks for the info, but how do we locate (and possibly contact) those agents/brokers since you said that those that [i[b]], can apply for this category of membership are stockbrokers, commodity brokers and commodity merchant.[/b][/i]

Awaiting ur prompt response.

And thanks for the insight.!

@ omodele ak

@BIGBOYLARY,
Thanks for the info, but how do we locate (and possibly contact) those agents/brokers since you said that those that , can apply for this category of membership are stockbrokers, commodity brokers and commodity merchant.

You can contact the followings for more info:

Royal Crest Finance Ltd
3rd Floor, L.S.D.P.C House
Nnamdi Azikiwe Street
Lagos. Tel: +234- 1- 2661340,234- 1-2669760


Transworld Investment & Securities Ltd
8th Floor, BAICO Plaza, 12, Abibu Oki
Lago. Tel: +234-1-2642550, +234-1-7237347

@BIGBOYLARY,

Thanks for the informations will it be like stock trading or what do you think when they finally goes online

Hey Larry, thanks for posting this.

Does anybody know anything about their electronic platform or any firm that is doing electronic clearing.

Also, has anybody heard any talk about possible team-ups between the ASCE and 1)any other Continental exchanges and 2)any of the major exchanges around the world?

Does anybody know of any major Continental firms that offer reports, analysis, and industry data for the products on this exchange?

Lastly, is this a speculators market or is there some significant hedging taking place by local farmers and producers?

Is the market operational?